DEVACAL
Open bankruptcyOverview
Information for creditors
Open bankruptcy
Source: Belgian Official Gazette
Declared bankrupt on 16 March 2016 · trustee Mr Vrombaut Alex · a claim can no longer be filed
The procedure
- Court
- Commercial Court of Ghent, Ostend division
- Official Gazette
- 25-03-2016search the document for 2016/105627
Deadlines
- Provisional date payments stopped
- 16 March 2016A later judgment can still change the date.art. XX.105, Code of Economic Law
- Appeal or third-party opposition until
- passed on 9 April 2016That is fifteen days after the publication in the Official Gazette.art. XX.108, Code of Economic Law
- File the claim in RegSol, the Belgian insolvency register, until
- passed on 15 April 2016art. XX.104 and XX.155, Code of Economic Law
- First verification report
- passed on 26 April 2016Reclaim goods that are still yours, such as goods delivered under retention of title, before this day.art. XX.104 and XX.194, Code of Economic Law
- Late claim until
- passed on 16 March 2017A late claim shares only in what has not yet been paid out. You bear the costs of that claim.art. XX.165, Code of Economic Law
Trustee
- Mr Vrombaut AlexGerard Davidstraat 46, Bus 1, 8000 Brugge
Steps for a creditor
- The deadlines to file your claim have passed, including for a late claim. That was possible until a year after the judgment.
- Ask the trustee whether anything will still be paid out and whether your claim was admitted.
- This bankruptcy was opened before April 2017 and is not in RegSol. The trustee and the registry of the enterprise court keep the file.
- Ask your accountant about the VAT on the unpaid invoices. In a bankruptcy it can be recovered, subject to conditions.
A late claim was possible until a year after the judgment (art. XX.165, Code of Economic Law). That deadline has passed too.
The judgment is more than a year old. A claim can no longer be filed, not even late. The trustee knows whether anything will still be paid out.
Follow
Follow this bankruptcy and you are notified the next morning if it is closed or reversed.
This is general information, not legal advice. If in doubt, the trustee, your lawyer or your accountant can help.Creditor guide for this company
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Overview
Official details
Source: KBO- Status
- Open bankruptcy registered since 02-01-1990
- Activity
- Activities of holding companies NACE 64210and 1 other
- Establishment units
- 2.046.846.785 8810 Lichtervelde, since 20-02-1990
- 2.242.646.532 8000 Brugge, since 08-10-2014
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Financial position
No score
Annual accounts 2014
- Loss
- €893,914
- ▲ 16×
- Equity
- €238,608
- ▼ 78.9%
- Total assets
- €9.5m
- ▲ 1.0%
- Staff
- 5 FTE
- ▼ 16.7%
Filed on 24-08-2015
Financials
Financials · financial year 2014, abbreviated format
Annual accounts 2014 filed on 24-08-2015 PDF all 25 filings
Equity
€238,608▼ 78.9%
2013 · €1.1m
Net result
-€893,914▼ 1,537%
2013 · -€54,613
Total assets
€9.5m▲ 1.0%
2013 · €9.4m
Solvency
2.5%▼ 9.6pp
2013 · 12.1%
Trend over the years
2010 to 2014, 5 financial years 2010 to 2014, 5 financial years
The operating result for 2014 is a loss of €78,323, after a profit of €432,232 in 2013. It is the lowest result since 2010.
Operating result-€0.08m
2014
Net result-€0.9m
2014
Total assets€9.5m
2014
Equity€0.2m
2014
Debt€8.8m
2014
Working capital-€2.8m
2014
Solvency2.5%
2014
Staff (FTE)5
2014
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The higher the solvency, the better the company absorbs a setback.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20102011201220132014
Operating result€0.2m-€0.4m▲ 128%€0.4m▼ 4.4%€0.4m▲ 20.1%-€0.08m
Net result-€0.1m-€0.02m-€0.06m-€0.05m▲ 12.9%-€0.9m▼ 1,537%
Equity€1.2m-€1.2m▲ 1.4%€1.2m▼ 5.0%€1.1m▼ 4.6%€0.2m▼ 78.9%
Total assets€9.9m-€9.8m▼ 0.7%€9.8m▼ 0.9%€9.4m▼ 3.8%€9.5m▲ 1.0%
Debt€8.7m-€8.6m▼ 1.0%€8.5m▼ 0.2%€8.2m▼ 3.7%€8.8m▲ 6.6%
Working capital-€2.2m--€2.2m▲ 0.3%-€1.9m▲ 14.9%-€1.9m▼ 4.2%-€2.8m▼ 46.4%
Solvency12.4%-12.7%▲ 0.3pp12.2%▼ 0.5pp12.1%▼ 0.1pp2.5%▼ 9.6pp
Staff (FTE)3.8-4.3▲ 13.2%5.3▲ 23.3%6▲ 13.2%5▼ 16.7%
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2014 in colour, 2013 as the grey bar beneath
Assets €9.5m
Fixed assets
€9.3m ▲ 0.7%
Current assets
€164,265 ▲ 19.0%
Equity and liabilities €9.5m
Equity
€238,608 ▼ 78.9%
Provisions
€460,677 ▲ 25×
Debt
€8.8m ▲ 6.6%
Debt's share of the balance-sheet total rises from 87.7% to 92.6%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-374.6%▼
2013 · -4.8%
ROA
-9.4%▼
2013 · -0.6%
Debt ≤ 1 year
€3.0m▲
2013 · €2.1m
Debt > 1 year
€5.7m▼
2013 · €6.1m
Income taxes
€586▼
2013 · €589
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2010 | 2011 | 2012 | 2013 | 2014 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.2m | €0.2m | €0.2m | €0.4m | ▲ 44.5% |
| Gross operating margin9900 | €0.5m | €0.9m | €0.9m | €1.1m | €1.3m | ▲ 18.7% |
| Operating profit (loss)9901 | €0.2m | €0.4m | €0.4m | €0.4m | -€0.08m | - |
| Recurring financial income75 | €24 | €320 | €0.005m | €0.005m | €0.003m | ▼ 47.7% |
| Recurring financial charges65 | €0.3m | €0.4m | €0.4m | €0.5m | €0.4m | ▼ 22.7% |
| Profit (loss) for the period before taxes9903 | -€0.1m | €0.009m | -€0.06m | -€0.06m | -€0.9m | ▼ 1,518% |
| Income taxes67/77 | €0.007m | -€0.007m | €0.006m | €0.001m | €0.001m | ▼ 0.5% |
| Profit (loss) for the period9904 | -€0.1m | €0.02m | -€0.06m | -€0.05m | -€0.9m | ▼ 1,537% |
| Profit (loss) for the period to be appropriated9905 | -€0.1m | €0.02m | -€0.06m | -€0.05m | -€0.9m | ▼ 1,613% |
| Line | 2010 | 2011 | 2012 | 2013 | 2014 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €9.9m | €9.8m | €9.8m | €9.4m | €9.5m | ▲ 1.0% |
| Fixed assets21/28 | €9.9m | €9.7m | €9.5m | €9.2m | €9.3m | ▲ 0.7% |
| Intangible fixed assets21 | - | - | €0.006m | - | €0.3m | - |
| Tangible fixed assets22/27 | €7.5m | €7.3m | €7.1m | €6.9m | €6.6m | ▼ 3.3% |
| Financial fixed assets28 | €2.4m | €2.4m | €2.4m | €2.4m | €2.4m | ▲ 0.8% |
| Current assets29/58 | €0.03m | €0.2m | €0.3m | €0.1m | €0.2m | ▲ 19.0% |
| Stocks and contracts in progress3 | - | - | €0.001m | - | €0.002m | - |
| Amounts receivable within one year40/41 | €0.03m | €0.2m | €0.1m | €0.1m | €0.1m | ▲ 6.6% |
| Cash at bank and in hand54/58 | €0.001m | €0.007m | €0.1m | €0.03m | €0.05m | ▲ 85.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €9.9m | €9.8m | €9.8m | €9.4m | €9.5m | ▲ 1.0% |
| Equity10/15 | €1.2m | €1.2m | €1.2m | €1.1m | €0.2m | ▼ 78.9% |
| Contributions10/11 | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | = |
| Reserves13 | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | ▼ 24.9% |
| Profit (loss) carried forward14 | -€0.02m | €0.002m | -€0.06m | -€0.1m | -€1.0m | ▼ 809% |
| Provisions and deferred taxes16 | €0.03m | €0.02m | €0.02m | €0.02m | €0.5m | ▲ 25× |
| Amounts payable17/49 | €8.7m | €8.6m | €8.5m | €8.2m | €8.8m | ▲ 6.6% |
| Amounts payable after more than one year17 | €6.4m | €6.2m | €6.4m | €6.1m | €5.7m | ▼ 5.5% |
| Amounts payable within one year42/48 | €2.2m | €2.4m | €2.1m | €2.1m | €3.0m | ▲ 44.5% |
| Trade debts44 | €0.02m | €0.008m | €0.04m | €0.06m | €0.2m | ▲ 339% |
| Line | 2010 | 2011 | 2012 | 2013 | 2014 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€104,167 | €17,562 | -€62,689 | -€54,613 | -€893,914 | ▼ 1,537% |
| + Depreciation and write-downs630 | €188,767 | €236,977 | €246,269 | €244,968 | €354,054 | ▲ 44.5% |
| Operating cash flow (approximation) | €84,600 | €254,539 | €183,580 | €190,355 | -€539,860 | - |
| Investment in fixed assets (approximation) | - | -€19,045 | -€78,497 | €6,000 | -€422,702 | - |
| Change in cash | - | €6,042 | €117,767 | -€96,739 | €24,202 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2014 | abbreviated format | 24-08-2015 | 2015-46000243 | |
| 31-12-2013 | abbreviated format | 21-08-2014 | 2014-44700470 | |
| 31-12-2012 | abbreviated format | 09-08-2013 | 2013-41200413 | |
| 31-12-2011 | abbreviated format | 10-07-2012 | 2012-28000430 | |
| 31-12-2010 | abbreviated format | 26-05-2011 | 2011-12800474 | |
| 31-03-2010 | abbreviated format | 02-11-2010 | 2010-59700261 | |
| 31-12-2008 | abbreviated format | 08-06-2009 | 2009-20200337 | |
| 31-12-2007 | abbreviated format | 14-05-2008 | 2008-13600134 | |
| 31-12-2006 | abbreviated format | 13-07-2007 | 2007-39400119 | |
| 31-12-2005 | abbreviated format | 19-06-2006 | 2006-25700031 |
Board & ownership
Directors
Directors
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Trustee | Mr Vrombaut Alex Gerard Davidstraat 46, Bus 1, 8000 Brugge |
16-03-2016 → present |
Owners and capital
Owners
Timeline
Acts, filings and financial milestones
2016
25-03
Bankruptcy
Bankruptcy declared
Commercial Court of Ghent, Ostend division · judgment of 16-03-2016
2015
24-08
abbreviated format · 24 days late
2014
31-12
Financial
Weakest financial yearnet -€893,914
The net result drops to -€893,914, the lowest from 2010 to 2014.
24-10
Gazette deed
Restructuring
21-08
abbreviated format · 21 days late
2013
09-08
abbreviated format · 9 days late
2012
10-07
abbreviated format · 21 days before the deadline
2011
31-12
Financial
Back to profitnet €17,562
The net result is €17,562, after one loss-making year.
26-05
abbreviated format · 66 days before the deadline
2010
02-11
abbreviated format · 2 days late
2009
08-06
abbreviated format · 53 days before the deadline
2008
14-05
abbreviated format · 78 days before the deadline
Show earlier events
2007
13-07
abbreviated format · 18 days before the deadline
2006
19-06
abbreviated format · 42 days before the deadline
1990
25-01
Gazette deed
Incorporation
33 publications in the Belgian Official Gazette, the last on 11-06-2015
SignalFinancial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Opening faillissement
- Last annual accounts
- financial year to 31 December 2014
- Legal form
- Public limited company
- Active since
- 2 January 1990
Register details
Identity
Name
DEVACAL in Dutch
Enterprise number
0439.786.518
Entity type
Legal entity
Registered office and establishments
Registered office
Vrijgeweedstraat 2, 8810 Lichtervelde, Belgium
Establishment units
Vrijgeweedstraat 4, 8810 Lichtervelde since 20-02-1990 · unit number 2.046.846.78568201 Renting and operating of own or leased residential real estate, excluding social housing
De Beurze, Markt 22, 8000 Brugge since 08-10-2014 · unit number 2.242.646.53256111 Full-service restaurants
Activities
NACEBEL 202564210
Activities of holding companies main activity
56112
Limited-service restaurants, excluding mobile food services
Codes under NACEBEL 2008
64200
Holdings main activity
56102
Limited-service restaurants
Codes under NACEBEL 2003
74151
main activity
Invoicing and payment
VAT number
BE 0439.786.518
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Buildings and parcels at the addresses
Ground area
4,593 m²
Building footprint
526 m²
Building volume
2,748 m³
Tallest building: 17.6 m.
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 36011A0013/00Z000 | Flanders | 2,549 m² | 1 · 297 m² | 7.4 m · 1 |
| 36011A0013/00C002 | Flanders | 1,984 m² | 1 · 168 m² | 7.1 m · 1 |
| 31805E1377/00A000 | Flanders | 61 m² | 1 · 61 m² | 17.6 m · 5 |
1 of these parcels carries protected heritage. Expect extra rules on renovation or sale.